Millenials Outspending Older Generations in Most Categories

By Bill O’Neil

It seems as though millenials are spending a lot more cash than older generations.

A new study finds that to be the case almost across the board, starting with things like eating out.

“Also groceries and gas… those are two areas where millenials are outspending the older generations” Bankrate’s Robin Saks Frankel told KTSA News.

“$23-hundred a year (on average) more on groceries, gas, restaurant orders and cell phones bill” Frankel said.

She said those numbers–at least in part–are easy to understand.

“Millenials–particularly those older millenials in their late 20’s and early to mid 30’s–those tend to be the folks settling down and having families” Frankel said.

There still is at least one place in which the older generations are outspending millenials: television services.

“Millenials are spending just about $80 a month compared with the average of $114 for those who are 37 and older” Frankel said.

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